OrbiMed Leads $37.3M Round for CardiAQ Valve Technologies
November 30, 2012
OrbiMed Advisors has led a $37.3 million financing round for CardiAQ Valve Technologies. The VC-backed company is working to develop technology and medical devices used for percutaneous mitral heart valve replacement. According to the company’s website, the “initial focus of [its] platform technology is a Transcatheter Mitral Valve Implantation (TMVI) system designed to be an effective alternative to open-chest surgery for treating mitral regurgitation.” Funds will go toward technology development and validation, as well as the company’s feasibility and CE mark clinical trials. Versant Ventures, Advent Venture Partners and Broadview Ventures joined OrbiMed in the financing.